HWM EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
HWM's ev/ebitda is higher than 82% of the last 10 years.
EV/EBITDA History
HWM EV/EBITDA by year
Yearly range of HWM’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 6.5 to 45.9, averaging 19.9.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 26.0 | 39.5 | 45.9 | 28.7 |
| 2025 | 24.6 | 34.2 | 39.6 | 35.7 |
| 2024 | 17.1 | 23.6 | 30.2 | 25.8 |
| 2023 | 15.9 | 18.9 | 20.8 | 19.3 |
| 2022 | 16.3 | 19.7 | 22.5 | 19.8 |
| 2021 | 16.6 | 20.9 | 26.2 | 19.8 |
| 2020 | 11.0 | 16.2 | 23.8 | 19.2 |
| 2019 | 6.9 | 11.2 | 22.1 | 22.1 |
| 2018 | 6.9 | 12.7 | 15.3 | 6.9 |
| 2017 | 6.5 | 7.8 | 9.1 | 9.0 |
| 2016 | 6.9 | 7.4 | 7.8 | 7.2 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is HWM EV/EBITDA High or Low Right Now?
Howmet Aerospace Inc.'s EV/EBITDA is currently 28.7, which is historically pricey relative to its 10-year historical range. The 10-year median EV/EBITDA for HWM is approximately 19.0. See all HWM valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.